Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) had its price objective reduced by analysts at Wedbush from $109.00 to $93.00 in a research report issued on Wednesday. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 168.40% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Cowen and Company reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 20th. BMO Capital Markets started coverage on shares of Pacira Pharmaceuticals in a research note on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 target price for the company. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price (down previously from $74.00) on shares of Pacira Pharmaceuticals in a research note on Monday, September 26th. Brean Capital cut shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Zacks Investment Research cut shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $71.50.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 34.65 on Wednesday. The stock’s 50 day moving average price is $37.40 and its 200 day moving average price is $43.27. Pacira Pharmaceuticals has a 12 month low of $31.08 and a 12 month high of $80.25. The firm’s market capitalization is $1.29 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.16. Pacira Pharmaceuticals had a negative net margin of 4.21% and a positive return on equity of 0.02%. The business earned $69.60 million during the quarter, compared to analysts’ expectations of $67.80 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. On average, analysts forecast that Pacira Pharmaceuticals will post $0.44 earnings per share for the current year.

In related news, CEO David M. Stack sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.32, for a total value of $679,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President James S. Scibetta sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.21, for a total transaction of $1,130,250.00. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Several hedge funds have recently modified their holdings of PCRX. Fisher Asset Management LLC raised its stake in shares of Pacira Pharmaceuticals by 1.4% in the third quarter. Fisher Asset Management LLC now owns 6,282 shares of the company’s stock worth $215,000 after buying an additional 85 shares in the last quarter. Legacy Capital Partners Inc. raised its stake in shares of Pacira Pharmaceuticals by 0.4% in the second quarter. Legacy Capital Partners Inc. now owns 23,200 shares of the company’s stock worth $783,000 after buying an additional 100 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of Pacira Pharmaceuticals by 0.8% in the third quarter. Fox Run Management L.L.C. now owns 13,400 shares of the company’s stock worth $459,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Pacira Pharmaceuticals by 0.3% in the second quarter. American Century Companies Inc. now owns 66,391 shares of the company’s stock worth $2,239,000 after buying an additional 206 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Pacira Pharmaceuticals by 0.9% in the second quarter. Nationwide Fund Advisors now owns 23,816 shares of the company’s stock worth $803,000 after buying an additional 224 shares in the last quarter.

Pacira Pharmaceuticals Company Profile

Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.

5 Day Chart for NASDAQ:PCRX

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